Refco Special Master Supports Paring Mayer Brown Claims

Law360, New York (January 18, 2012, 5:32 PM EST) -- A special master in the Refco Inc. multidistrict fraud litigation on Tuesday recommended trimming hedge fund liquidators' claims against Mayer Brown LLP, but also backed part of a claim that the firm had aided the defunct brokerage in scamming investors.

Liquidators for the Sphinx Ltd. family of hedge funds sued Mayer Brown and other defendants in 2008 for $263 million in damages that the funds, overseen by investment manager PlusFunds Group Inc., allegedly suffered. Mayer Brown was Refco's primary law firm until October 2005.

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Case Information

Case Title

In Re: Refco Securities Litigation


Case Number

1:07-md-01902

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Jed S. Rakoff

Date Filed

December 28, 2007

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